I am curious to know a few simple facts-
1. What is the percentage of oil revenue from Scottish waters in terms of UK GDP as a whole?
2. Where are the oil companies that pump the crude ashore registered, i.e. what nationality are they?
3. What is the forecast for oil production in the future, i.e. how much is left?
4. What is the total tax revenue for Scotland in comparison to the UK as a whole?
5. How much subsidy does Scotland receive as a total from the rest of the UK?
Cheers!
2007-06-01 05:35:42 · 5 answers · asked by Miyagi 1 in Business & Finance ➔ Corporations
1) None. Offshore waters belong to the Nation that is able to deploy Navel units to enforce that ownership. When Scotland pays for it's own Navy (and Defence in general) they can start to enforce 'Scottish waters' = see eg. 'Cod War'. Currently the UK Navy enforces UK waters.
2) Almost all the major Oil Companies are "multinational" and owned by their Shareholders, although some Governments (eg. Westminster) like to think otherwise. Where they are Registered is relevant only for Tax reasons.
3) Oil Production from the North Sea is believed to have peaked and is now tailing off. 'How much' is left is less important than what is economically recoverable.
4) & 5) Are impossible to say. If Scotland decides to become independant, perhaps we will find out - however see re: Defence costs (1) above.
2007-06-01 07:08:58 · answer #1 · answered by Steve B 7 · 0⤊ 1⤋
There is no such thing as "Scottish Oil". For UK Oil data there are plenty of published sources. Taker off your Tam O Shanter!
2007-06-01 05:44:12 · answer #2 · answered by Anonymous · 0⤊ 3⤋
Should be put into Scottish ownership, full stop.my opinion! > JK <
2007-06-01 05:50:24 · answer #3 · answered by JOKERSWILD 7 · 1⤊ 0⤋
Q5 - Far more than they deserve
2007-06-01 05:39:09 · answer #4 · answered by Busy Bea 2 · 1⤊ 3⤋
who know's.
2007-06-01 05:43:51 · answer #5 · answered by Anonymous · 0⤊ 2⤋